Franklin Liberty U.S. Low Volatility ETF
ALTAR
Score™
5.3% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
19.3x P/Sales
ratio
2.6x
P/BV
ratio
3.2x Div.
yield
2.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Franklin Liberty U.S. Low Volatility ETF is an actively-managed fund which seeks capital appreciation with lower volatility than the Russell 1000 Index.

FUND BASICS
Category US Equities
Fund Sponsor Franklin ETF Trust
Website www.libertyshares.com
Inception date Sep 20, 2016
Assets (mns) $83
Currency USD
Expense ratio 29 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Proprietary
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 83
Wgt avg mkt cap (mns) $180,778
Large cap (>$10bn) 98.7%
Mid cap ($2-10bn) 1.3%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MICROSOFT CORP 1.6 %
MASTERCARD INC-CLASS A 1.6 %
INTUIT INC 1.6 %
VISA INC-CLASS A SHARES 1.6 %
APPLE INC 1.6 %
GLOBAL PAYMENTS INC 1.6 %
INTL BUSINESS MACHINES CORP 1.6 %
SYNOPSYS INC 1.5 %
AUTOMATIC DATA PROCESSING 1.5 %
CHARTER COMMUNICATIONS, INC. CLASS 1.5 %
Total 15.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 91.2 %
IRELAND 3.8 %
BRITAIN 1.6 %
CANADA 1.4 %
SWITZERLAND 1.2 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
1.0% 24.4% -- -- 15.6%

Market Correlations
versus... Beta R-squared
S&P500 0.83 93%
MSCI EAFE 0.72 59%
MSCI Emg. Mkts. 0.46 42%

Technical Indicators
Recent close $37.74
30d moving avg. $39.40
Annualized volatility 10.4%
Short interest (ETF) 0.7%
Relative strength (RSI) 44

Liquidity measures
Avg. volume (thou.) 23
Turnover 1.1%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $51,075

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Franklin Liberty U.S. Low Volatility ETF ETF based on the alternatives' overlap in portfolio holdings with FLLV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FLLV Expense: 29 bp ALTAR Score™: 5.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FLLV
Ticker Fund
Name
Overlap1
vs FLLV
(%)
Expense
ratio
(bp)
Savings
vs FLLV
(bp)
ALTAR
Score™
(%)
ALTAR
vs FLLV
(%)
OVOL Invesco Russell 1000 Low Volatility Factor ETF 50.0 19 10 6.6 +1.3
HUSV First Trust Horizon Managed Volatility Domestic ETF 46.7 70 -41 4.9 -0.4
DEF Invesco Defensive Equity ETF 46.2 55 -26 4.9 -0.4
FDLO Fidelity Low Volatility Factor ETF 44.3 29 0 5.3 +0.0
USMV iShares Edge MSCI Min Vol USA ETF 42.6 15 14 5.2 -0.1
EQWL Invesco Russell Top 200 Equal Weight ETF 41.7 25 4 6.7 +1.4
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 41.5 25 4 6.1 +0.8
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 39.9 12 17 5.6 +0.3
MGC Vanguard Mega Cap Index Fund 39.5 7 22 5.9 +0.6
OEF iShares S&P 100 ETF 39.5 20 9 5.7 +0.4
IWL iShares Russell Top 200 ETF 39.3 15 14 5.8 +0.5
QUS SPDR MSCI USA StrategicFactors ETF 38.5 15 14 6.1 +0.8
SNPE Xtrackers S&P 500 ESG ETF 37.9 11 18 5.9 +0.6
LGLV SPDR Russell 1000 Low Volatility ETF 37.9 12 17 5.2 -0.2
LVUS Hartford Multifactor Low Volatility US Equity ETF 37.5 19 10 6.0 +0.7
FDMO Fidelity Momentum Factor ETF 37.4 29 0 4.2 -1.1
SPXN ProShares S&P 500 Ex-Financials ETF 36.8 27 2 5.9 +0.6
DGRO iShares Core Dividend Growth ETF 36.4 8 21 6.8 +1.5
DLN WisdomTree U.S. LargeCap Dividend Fund 36.4 28 1 6.9 +1.6
PFM Invesco Dividend Achievers ETF 36.3 54 -25 5.5 +0.2

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Franklin Liberty U.S. Low Volatility ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 17.8 %
Divided by: Fwd. P/BV 3.2 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 5.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.51 CATEGORY
AVERAGE
1.56
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.